Ann: Appendix 4C - quarterly, page-2

Another pathetic 4C IMO

Revenue - going backwards demonstrating there is no demand for their 'organic' skin product offerings in an extremely competitive skin care market.

Cash - Burning through approx. $600k per quarter and spending half on R&D and only $50k on production? Seriously? In my opinion they are doing this because there is no demand for their products and there is a known ATO payback on R&D refund. I would be interested to see the detail of where those R&D funds are going and to who, as I would like to understand if there are any related parties.

Only $112k left in the account with a Entitlement Capital Raise of $1 mil that is or isn't happening? Why the issue with the indicative timetable? Is there a issue with the Underwriter?

Even getting the $1m over the line only gives SKN 2 quarters (at most) of cash burn. On shaky ground now IMO.

DYOR